'Going by past practices, a big chunk of that RM5 billion may end up in the hands of cronies and friends of Umno.'

RM5 bil to help bumis own shares

Kgen: What is this obsession with bumis owning shares? Giving them loans to buy shares which they will sell for quick profit is not going to help. If the shares go down in value then it's bye-bye to the loan agency. Bumis owning shares has nothing to do with their economic well-being.

Let those who want to invest in shares do so with their own money. This is nothing but an abuse of taxpayers' money to benefit one race when taxes are paid by all races.

Croniq: Prime Minister Najib Razak reportedly admitted in June last year that only RM2 billion out of the RM54 billion of bumiputera shares given out since the inception of the ‘Never Ending Policy' in 1971 remained in the hands of the Malays.

Now it's his directive to increase the ownership of shares among bumiputeras "to ensure they do not lag behind in comparison to other races."

Once again, it's RM5 billion of hard-earned taxpayers' money going to bumis exclusively and the deputy finance minister has the audacity to say that the move is not intended to grab shares owned by the other races.

Md Imraz Muhammed Ikhbal: Impressive! By far the biggest bribe to the race with the majority of voters. Aren't we a nation that sugar-coats corruption with the guise of affirmative action?

StevenForMalaysia: We are not against helping the bumis to own share but first please find out where RM52 billion out of the RM54 billion shares allocated to bumis had gone? Please do not just help the cronies to make a quick buck and later say the government has not achieve the 30 percent bumi target. This cheat cannot go on and on.

Baiyuensheng: My heart bleeds when I saw this headline. How does this contribute to an equitable wealth distribution considering the factors used in the calculation, as discussed by Nurul Izzah Anwar , such as corporate equity (based on par value, not actual), household income, employment, property ownership regardless whether if they are local or overseas?

So this fund provides loans to Malays to buy shares? What if the share values drop and they default on the loans? Does the government write off on the bad loans and the borrowers get off the hook like the education loans?

DOC: There is just no depth to the level of absurdity that this government will stoop to with this RM5 billion to help bumis own shares. It sounds like another scam that has Umno's doing painted all over it.

First, Umno will use the government/rakyat's money to buy shares for Umnoputras. This money will be used to prop up poorly performing companies in the share market and artificially boost the market. The government will say the share market is going up and thus the economy is booming. Umnoputras then sell the shares at a profit.

The shares dip, and the government will announce another fiasco. The opposition will kick up a fuss. Umno sweeps the rubbish under the carpet. The rakyat will have to foot these losses and another round of austerity drive will be announced with subsidies further slashed.

ONG: I assume the assistance will be in the form of loans to buy the stipulated shares. The main concern is not the Malays grabbing shares owned by other races. The main concern is that more taxpayer money will disappear when loan takers decide to interpret and treat loans as income, meaning a one-way movement of the loan money.

Wira: Going by past practices, a big chunk of that RM5 billion may end up in the hands of cronies and friends of Umno.

Syed Husin backs Nurul Izzah, says she's 'spot on'

JBGuy: A beauty with brains, how I wish more Malays were as confident as she (Nurul Izzah Anwar) is. Her dissertation on the constitution is well written and based on facts. Only insecure people who want to enrich themselves will manipulate the Malay masses to see the constitution differently.

In most countries, the constitution is amended in keeping with the times but only in Malaysia we have imbeciles who see it as treachery or seditious. The Reid Commission which helped draft the constitution specifically stated that it should be amended so that all races would be given equal rights and privileges. This continues to be ignored.

Islam proclaims equality for all but the ruling Malays continue to profess Islam as their religion but refuse to act like true Muslims. Shame on them and my salutations to Nurul. I would very much hope that you will be our future PM.

Anonymous: Nurul Izzah must have hit a raw nerve in the Umno psyche where it hurts the most. Hence the babel of sounds to hurl remarks against her. If NEP has served the genuine purpose of uplifting the poor, underprivileged and also to eradicate the poor of all races, why is it necessary for the PM to initiate NEM?

And, why did Nazir Razak, the brother of Najib, make a bold statement that the NEP has been "bastardsided" ? Didn't the CIMB CEO make a very strong statement condemning the implementors of NEP? And strangely, Umno leaders have yet to condemn Nazir Razak but they came strongly against Nurul Izzah.

In fact, Nazir has made a stronger statement than Nurul Izzah and yet Umno leaders dare not touch him. Is it because he is Najib's brother and is thus ‘untouchable' while Nurul Izzah is ‘touchable' because she is, firstly, Anwar's daughter, and secondly, an opposition leader who talks sense.

Ronin: I supported you 110 percent. I even named my daughter who was born in 2001 after you - Nurul Izzah.

In defence of Nurul Izzah

Nik V: Thank you John Mallot for still caring enough about Malaysia to write with such wisdom, courage and understanding. Some might say you don't have a stake in Malaysia so why should you care?

But many of us are glad that nevertheless, somehow, Malaysia's degenerated politics has found a place in your heart. Please continue to be the outside voice we need so badly to hear what we can't get from within.

Sentinel: John Mallot, you have been a true friend of Malaysia, more concerned and more vociferous than many of us. I am glad you continue to have the future of this country in your heart despite having left this country as the US ambassador. I pray you continue to 'fight' for us and voice out on our behalf where we are 'powerless' and our hands are tied.

Maitreya: Thank you, Mr Malott. I think Nurul Izzah needs no defence. She is a beacon of intelligence blended with common sense and compassion and already is beginning to shine even brighter than her illustrious father.

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